Some people continue to ask why they need an estate plan, especially since Congress passed the American Taxpayer Relief Act, which made the $5 million federal estate tax exemption permanent. The question is often, “If my estate is under $5 million, why do I need an estate plan or need to be concerned with any […]
What is a Guardianship? A guardianship is a determination by the Court that a person (proposed ward) is incapacitated. The judge must make this decision based upon clear and convincing evidence. “Incapacitated person” means an individual who is impaired to the extent of lacking sufficient understanding or capacity to make or communicate responsible personal decisions, […]
This is the first in a three part series on pre-planning for your death. This series is written by Jill Sauber, a current law student and licensed mortician. People often segue into talking about their own mortality or death by saying, “if something happens to me.” As though stating it in terms of “maybe” […]
Some clients know how important the Power of Attorney document is. They may have acted as attorney-in-fact for a spouse or an elderly relative. Or they may have experienced first hand the challenges created when someone hasn’t executed a valid Power of Attorney. The Power of Attorney (aka POA) names an attorney-in-fact to make financial […]
Losing a spouse is a heart-wrenching event that can be difficult, if not unbearable, to even plan for. Therefore, many surviving spouses are not prepared for the death of their spouse and subsequently have to deal with financial and legal questions at a time when they are most likely not thinking clearly. This post discusses […]
It is a common misconception that estate planning is only necessary for the wealthy or those with a spouse and children. However, all individuals, no matter what their financial situation may be, can benefit from preparing for the future with estate planning tools, too. An estate plan includes more than creating a Will or trust […]
It is a common misconception that estate planning is only necessary for the wealthy or those with a spouse and children. However, all individuals, no matter what their financial situation may be, can benefit from preparing for the future with estate planning tools, too. An estate plan includes more than creating a Will or trust […]
Clients can become confused and overwhelmed by the various roles and individuals named in their estate plan. In a previous post, I outlined the traditional key players in a typical estate plan. However, guardians, conservators and custodians are three roles that can come into play when an individual has not properly planned and therefore, clients […]
Okay, I admit. I spend my free weekday evenings parsing through my Google Reader with the TV on in the background. This week, two shows that I have never seen before caught my attention; not because of the witty and meaningful dialogue, but because words like “Probate,” “Lawyer,” and “Will” came up in a prime […]
Each year thousands of people who will be getting married need to consider whether or not they will change their last name. This no longer applies just to women. More often, men are considering changing their last name and more same-sex marriages are occurring. If an individual does decide to change his or her last […]
Everyone should have an estate plan to ensure his or her final wishes are expressed and followed. However it is even more important for the following individuals to have an estate plan to protect and provide for their loved ones: